Catch up on today’s top five analyst downgrades with this list compiled by The Fly: 1. Crown Holdings (CCK), Ball Corp. (BLL) and Ardagh Group (ARD) all downgraded to Market Perform from Outperform at BMO Capital following news that Can-Pack is building a second U.S. beverage can plant in Indiana. 2. Illinois Tool Works (ITW) downgraded to Underweight from Equal Weight at Barclays with analyst Julian Mitchell seeing catalysts to drive a reversal of the stock’s recent bounce, including organic sales growth decelerating in most of the company’s businesses back to prior peak levels by late 2021, evidence that its share gain efforts are not necessarily gaining traction and the potential levelling off in the “recently-stellar” incremental margins as input cost pressures ratchet higher. 3. AMC Entertainment (AMC) downgraded to Neutral from Buy at B. Riley with analyst Eric Wold saying while he remains confident about a box office recovery into 2022 and 2023 and still sees an opportunity for AMC to gain share, his rating change is based “on valuation only” with a 75% move higher in the shares pushing them above his $16 target. 4. Boston Scientific (BSX) downgraded to Hold from Buy at Needham with analyst Mike Matson contending that consensus estimates for the company’s 2022 and 2023 performance look “too high,” anticipating downward revisions going into and out of Boston Scientific’s investor day in September. 5. Travere Therapeutics (TVTX) downgraded to Neutral from Outperform at Wedbush with analyst Laura Chico noting that Travere announced the FDA did not see interim DUPLEX data as adequate to form the basis for an accelerated approval filing. This list is just a portion of The Fly’s full analyst coverage. To see The Fly’s full Street Research coverage, (click here.):(http://thefly.com/streetResearch.php)
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